Ranged-bound trading was witnessed on the money market as the rupee moved cautiously against the dollar during the week, ended on January 23, 2016. In the interbank market, the rupee was unmoved in terms of the dollar for buying and selling at Rs 104.94 and Rs 104.95
In the open market, the rupee sustained its level in relation to the dollar for buying at Rs 106.10, while it shed 10 paisa for selling at Rs 106.40. The rupee rose by 75 paisa versus the euro for buying and selling at Rs 115.25 and Rs 116.25.
Some currency viewers observed that the rupee moved cautiously against the dollar in process of easy flow of US dollar.
Sometimes, demand surged for the dollar, but comfortable supply helped the local currency to resist sharp fall, as a result it appeared that the rupee may keep realistic levels versus the dollar in the near future, they added.
INTER-BANK MARKET RATES: On Monday, the rupee shed two paisa in terms of the dollar for buying and selling at Rs 104.94 and Rs 104.95. On Tuesday, the rupee showed no major change in terms of the dollar for buying and selling at Rs 104.93 and Rs 104.95. On Tuesday, the rupee improved after gaining one paisa in terms of the dollar for buying and selling at Rs 104.92 and Rs 104.94. On Wednesday, the rupee slipped by one paisa in terms of the dollar for buying and selling at Rs 104.93 and Rs 104.95.
On January 22, the rupee moved with little changes in terms of the dollar for buying and selling at Rs 104.94 and Rs 104.95.
OPEN MARKET RATES: On January 18, the rupee retained the overnight level versus the dollar for buying and selling at Rs 106.10 and Rs 106.30. While, the rupee also depicted no variation versus the euro for buying and selling at Rs 116.00 and Rs 117.00. On January 19, the rupee sustained overnight level versus the dollar for buying at Rs 106.10 while it shed 10 paisa for selling at Rs 106.40.
The rupee gained 20 paisa versus the euro for buying and selling at Rs 115.80 and Rs 116.80. On January 20, the rupee depicted no change versus the dollar for buying and selling at Rs 106.10 and at Rs 106.40. The rupee gave back overnight gains in relation to the euro, losing 20 paisa for buying and selling at Rs 116.00 and Rs 117.00. On January 21, the rupee lost 10 paisa in relation to the dollar for buying and selling at Rs 106.20 and at Rs 106.50. The rupee continued declining trend in terms of the euro, losing 25 paisa for buying and selling at Rs 116.25 and Rs 117.25.
On January 22, the rupee shrugged off overnight weakness against the dollar, gaining 10 paisa for buying and selling at Rs 106.10 and at Rs 106.40. The rupee also recovered 75 paisa in relation to the euro for buying and selling at Rs 115.50 and Rs 116.50.
On January 23, the rupee sustained overnight levels in relation to the dollar for buying and selling at Rs 106.10 and at Rs 106.40. The rupee maintained surge in relation to the euro, picking up more 25 paisa for buying and selling at Rs 115.25 and Rs 116.25.
OVERSEAS OUTLOOK FOR DOLALRS: In the first Asian trade, the safe-haven yen got off to a flying start, while the Australian dollar, usually sold off in times of market stress, stayed under pressure as Asian equities geared up for a torrid session following a big sell-off on Wall Street.
The dollar slid to 116.56 yen, from 117.10 late in New York. A break below 116.15 - its August trough - will take the greenback back to one-year lows. It last stood at 116.77. The euro dipped to a one-week low of 127.48 yen, while the Aussie dollar was pinned near Friday's three-year trough of 79.52 yen.
The dollar was trading against the Indian rupee at Rs 67.56, the greenback was at 4.4080 in terms of the Malaysian ringgit and US currency was at 6.5788 in relation to the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday. 78.50-78.50 (previous 78.50-78.50).
In the second Asian trade, the safe haven yen sagged on Tuesday as China's fourth-quarter economic growth matched expectations, but its losses were likely to be limited amid persisting worries about the global economic outlook.
The dollar was trading against the Indian rupee at Rs 67.68, the US currency was 4.3880 in terms of the Malaysian ringgit and the greenback was at 6.5791 in relation the toe Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday. 78.50-78.50 (previous 78.50-78.50.
In the third Asian trade, the dollar retreated as crude oil prices descended to near 13-year lows, hitting risk asset markets and putting safe-haven currencies such as the Japanese yen back in favour. The dollar was down 0.4 percent at 117.20 yen. The greenback had risen as far as 118.115 overnight on a bounce in crude oil prices. But it gave up those gains after the rise in the battered commodity proved temporary. The dollar also slipped against the Swiss franc, another safe haven. The euro rose 0.3 percent to $1.0937. With the ebb and flow in risk appetite having dictated movements in major currencies so far this year, the focus remained on the fortunes of the commodity and equity markets.
The dollar was trading against the Indian rupee at Rs 67.93, the greenback was at 4.3680 in relation to the Malaysian ringgit and the US currency was at 6.5798 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday. 78.50-78.50 (previous 78.50-78.50).
In the forth Asian trade, the dollar came off a one-year low against the yen on Thursday after a media report suggested Japanese authorities are becoming increasingly anxious about the strength of the local currency. The dollar was up 0.2 percent at 117.16 yen after descending to 115.97 overnight, its lowest level since January 2015.
The US currency had plummeted as a plunge in oil prices to near 13-year lows and an ensuing rout in global equities intensified demand for the safe-haven yen. `
But an overnight report by Bloomberg quoting an unnamed Tokyo official that authorities were "closely watching the currency markets" lifted the dollar off one-year lows, traders said.
The dollar was trading against the Indian rupee at Rs 67.96, the greenback was at 4.3750 in terms the Malaysian ringgit and the US currency was at 6.5796 versus the Chinese yuan.
In the final Asian trade, the dollar firmed against a basket of currencies, as rising expectations of monetary easing by other major central banks offset fading chances of more rate hikes from the Federal Reserve.
The dollar index, which tracks the greenback against a basket of six major rivals, rose about 0.2 percent to 99.260, below Thursday's more than one-month session high of 99.790. But it was still on track to mark a gain of 0.3 percent for the week.
The dollar edged up about 0.1 percent against the yen to 117.80, on track for a weekly gain of about 0.6 percent.
The dollar was available against the Indian rupee at Rs 67.70, the greenback was at 4.3110 in terms of the Malaysian ringgit and the US currency was at 6.579 versus the Chinese yuan.
At the week-end, the dollar rose, boosted by increased expectations of monetary easing by central banks in Europe and Japan, and by a bump in global equities and oil prices that renewed market risk appetite.
The dollar rose to a two-week high against the yen, which has had its year-to-date gains versus the greenback cut nearly in half over the past two days.
Bank of Japan Governor Haruhiko Kuroda said Friday there is further room for the BoJ to expand its quantitative easing program if inflation continues to wane.
That would reduce the value of Japan's currency, making it less attractive to investors. The dollar rose 0.9 percent to 118.75 yen.
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